DEBT	3 Months Ended
Mar. 31, 2019
DEBT
DEBT	NOTE 17 DEBT On August 10, 2018, the Company finalized a $50.0 million senior secured three year term loan facility with Royal Capital Management Corp. (“RoyCap”), an administrative agent, and the lenders party thereto (“Lenders”). An affiliate of Robert McEwen, Chairman and Chief Executive Officer and the beneficial owner of 23% of the Company’s common stock at the time of the finalization of the term loan, contributed $25.0 million of the $50.0 million total term loan. The term loan was raised to finance construction of the Gold Bar mine in Nevada and for general corporate purposes. The principal amount of the term loan bears interest at 9.75% per annum with interest due monthly. Repayment of the term loan is secured by a lien on certain of the Company’s and its subsidiaries’ assets. Scheduled minimum debt repayments are $nil in 2019, $10.0 million in 2020 and $40.0 million in 2021. The Company has paid $1.2 million in interest during the three months ended March 31, 2019 (March 31, 2018 – $nil). The scheduled remaining minimum interest payments are $3.7 million in 2019, $4.7 million in 2020 and $2.0 million in 2021.

DEBT

3 Months Ended

Mar. 31, 2019

NOTE 17 DEBT

On August 10, 2018, the Company finalized a $50.0 million senior secured three year term loan facility with Royal Capital Management Corp. (“RoyCap”), an administrative agent, and the lenders party thereto (“Lenders”). An affiliate of Robert McEwen, Chairman and Chief Executive Officer and the beneficial owner of 23% of the Company’s common stock at the time of the finalization of the term loan, contributed $25.0 million of the $50.0 million total term loan. The term loan was raised to finance construction of the Gold Bar mine in Nevada and for general corporate purposes.

The principal amount of the term loan bears interest at 9.75% per annum with interest due monthly. Repayment of the term loan is secured by a lien on certain of the Company’s and its subsidiaries’ assets. Scheduled minimum debt repayments are $nil in 2019, $10.0 million in 2020 and $40.0 million in 2021.

The Company has paid $1.2 million in interest during the three months ended March 31, 2019 (March 31, 2018 – $nil). The scheduled remaining minimum interest payments are $3.7 million in 2019, $4.7 million in 2020 and $2.0 million in 2021.